Asia-Pacific Artificial Intelligence/ Machine Learning Medical Device Market: Analysis and Forecast, 2022-2032
Introduction to Asia-Pacific Artificial Intelligence/Machine Learning Medical Device Market
The Asia-Pacific artificial intelligence/machine learning medical device market was valued at $681.9 million in 2022 and is anticipated to reach $6,800.9 million by 2032, witnessing a CAGR of 25.86% during the forecast period 2022-2032. The market experiences growth due to factors including a substantial ecosystem of companies providing AI solutions, increasing demand in radiology and cardiology, a rising need for wearable sensors, and numerous government initiatives.
Market Introduction
The Asia-Pacific (APAC) Artificial Intelligence and Machine Learning (AI/ML) medical device market is witnessing a significant surge in growth and innovation. This dynamic region is becoming a focal point for the development and adoption of AI and ML technologies in the healthcare sector.
The increasing prevalence of chronic diseases, coupled with a rapidly aging population, is driving the demand for advanced medical devices powered by AI and ML. These technologies enhance diagnostic accuracy, treatment planning, and patient care, making healthcare more efficient and accessible. Countries in the APAC region are actively investing in healthcare infrastructure and research, fostering a favorable environment for AI/ML medical devices. Moreover, the presence of a vast and diverse patient population provides a unique opportunity for data-driven healthcare solutions. As the APAC AI/ML medical device market continues to expand, collaborations between technology companies and healthcare providers are on the rise, facilitating the development of cutting-edge medical devices and driving improvements in patient outcomes.
Market Segmentation:
Segmentation 1: by Country
China
Japan
India
Australia
South Korea
Rest-of-Asia-Pacific
How can this report add value to an organization?
Growth/Marketing Strategy: The APAC artificial intelligence/machine learning medical device market has seen major development by key players operating in the market, such as business expansion, partnership, collaboration, and joint ventures. Partnerships, alliances, business expansions, and regulatory activities accounted for the maximum number of key developments.
Competitive Strategy: The APAC artificial intelligence/machine learning medical device market is highly fragmented, including established companies and startups. Key players in the APAC artificial intelligence/machine learning medical device market analyzed and profiled in the study involve established and emerging players that offer different AI-enabled medical devices. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
Some prominent names established in this market are:
Canon Inc.
Ever Fortune.AI Co., Ltd.
AIRS Medical Inc.
Annalise-AI
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- Executive Summary
- Scope of the Study
- Research Methodology
- 1 Markets
- 1.1 Market Outlook
- 1.1.1 Product Definition
- 1.1.2 Inclusion and Exclusion Criteria
- 1.1.3 Key Findings
- 1.1.4 Market Scenario
- 1.1.4.1 Realistic Growth Scenario
- 1.1.4.2 Optimistic Growth Scenario
- 1.1.4.3 Pessimistic/Conservative Growth Scenario
- 1.2 Industry Outlook
- 1.2.1 Market Overview
- 1.2.2 Key Trends
- 1.2.2.1 Updations of Government Regulations to Accommodate the Development and Regulation of AI-enabled SaMD
- 1.2.2.2 Most AI-Enabled Medical Devices Aid in Clinical Decision-Making but do not Provide the Final Diagnosis Themselves
- 1.2.2.3 Very Few AI-Enabled Medical Devices Have to Undergo the Rigorous PMA Process: Rest Get 510(k) Clearance
- 1.2.3 Opportunity Assessment
- 1.2.4 Business Models
- 1.2.5 Recommendations for Key Players
- 1.2.6 Patent Analysis
- 1.2.6.1 Awaited Technological Developments
- 1.2.6.2 Patent Filing Trend (by Country)
- 1.2.6.3 Patent Filing Trend (by Year)
- 1.2.7 Funding Scenario
- 1.2.8 Product Benchmarking
- 1.2.9 End User Perception
- 1.3 Impact of COVID-19 on the Artificial Intelligence/Machine Learning Medical Device
- 1.3.1 Pre-COVID-19 Phase
- 1.3.2 During COVID-19
- 1.3.2.1 Impact of COVID-19 on Clinical Settings and Clinical Decision-Making
- 1.3.3 Post-COVID-19 Phase
- 1.4 Business Dynamics
- 1.4.1 Impact Analysis
- 1.4.2 Business Drivers
- 1.4.2.1 Presence of a Large Ecosystem of Companies Offering AI Solutions Targeting the Diverse Range of Applications of AI in the Healthcare
- 1.4.2.2 Growing Demand in the Field of Radiology and Cardiology Increasing Adoption of AI-Enabled Solutions due to Their Ability to Shorten Waiting Times and Reduce Burden on Healthcare System
- 1.4.2.3 Growing Demand for Wearable Sensors to Increase Adoption of AI-Enabled Medical Devices for Home-Based Care
- 1.4.2.4 Large Number of Government Initiatives Advancing the Research and Development of AI-Enabled Medical Devices
- 1.4.3 Business Restraints
- 1.4.3.1 Lack of Transparency and Concerns around Data Sharing Leading to Cybersecurity Concerns and Hindering Adoption of AI in Healthcare
- 1.4.3.2 Challenges Related to Identification and Minimization of Bias in AI Algorithms Leading to Concerns Surrounding the Reliability of Diagnosis and Thus Hindering the Use of AI-Enabled Solutions
- 1.4.4 Business Opportunities
- 1.4.4.1 Applications across a Wide Range of Clinical Areas Present Opportunities for Further Research and Development
- 1.4.4.2 Potential of AI to Shorten Wait Times and Reduce Disease Burden on the Healthcare System, Especially in Low- and Middle-Income Countries (LMICs)
- 1.4.4.3 Increasing Number of Medical Imaging Equipment Coupled with Relatively Lower Adoption of AI-enabled Medical Devices Presents Opportunity for Growth in Regions such as Asia-Pacific
- 2 Artificial Intelligence/Machine Learning Medical Device Market (by Region)
- 2.1 Asia-Pacific Artificial Intelligence/Machine Learning Medical Device Market
- 2.1.1 Regulatory Framework
- 2.1.2 Technology Adoption
- 2.1.3 Key Findings and Opportunity Assessment
- 2.1.4 Market Dynamics
- 2.1.4.1 Impact Analysis
- 2.1.5 Market Size and Forecast
- 2.1.5.1 Asia-Pacific Artificial Intelligence/Machine Learning Medical Device Market (by Country)
- 2.1.5.1.1 Japan
- 2.1.5.1.1.1 Market Dynamics
- 2.1.5.1.1.2 Market Size and Forecast
- 2.1.5.1.2 China
- 2.1.5.1.2.1 Market Dynamics
- 2.1.5.1.2.2 Market Size and Forecast
- 2.1.5.1.3 Australia
- 2.1.5.1.3.1 Market Dynamics
- 2.1.5.1.3.2 Market Size and Forecast
- 2.1.5.1.4 South Korea
- 2.1.5.1.4.1 Market Dynamics
- 2.1.5.1.4.2 Market Size and Forecast
- 2.1.5.1.5 India
- 2.1.5.1.5.1 Market Dynamics
- 2.1.5.1.5.2 Market Size and Forecast
- 2.1.5.1.6 Rest-of-Asia-Pacific
- 2.1.5.1.6.1 Market Dynamics
- 2.1.5.1.6.2 Market Size and Forecast
- 3 Markets - Competitive Benchmarking & Company Profiles
- 3.1 Competitive Benchmarking
- 3.1.1 Key Strategies and Developments
- 3.1.1.1.1 Regulatory and Legal Activities
- 3.1.1.1.2 Funding Activities
- 3.1.1.1.3 New Offerings
- 3.1.1.1.4 Mergers and Acquisitions
- 3.1.1.1.5 Partnerships, Collaborations, and Business Expansions
- 3.2 Company Profiles
- 3.2.1 Canon Inc.
- 3.2.1.1 Company Overview
- 3.2.1.2 Role of Canon Inc. in the Artificial Intelligence/Machine Learning Medical Device Market
- 3.2.1.3 Financials
- 3.2.1.4 Analyst Perception
- 3.2.2 Shanghai United Imaging Healthcare Co., Ltd.
- 3.2.2.1 Company Overview
- 3.2.2.2 Role of Shanghai United Imaging Healthcare Co., Ltd. in the Artificial Intelligence/Machine Learning Medical Device Market
- 3.2.2.3 Product Portfolio
- 3.2.2.4 Analyst Perception
- 3.2.3 Ever Fortune.AI Co., Ltd.
- 3.2.3.1 Company Overview
- 3.2.3.2 Role of Ever Fortune.AI Co., Ltd. in the Artificial Intelligence/Machine Learning Medical Device Market
- 3.2.4 MedMind Technology Co., Ltd.
- 3.2.4.1 Company Overview
- 3.2.4.2 Role of MedMind Technology Co., Ltd. in the Artificial Intelligence/Machine Learning Medical Device Market
- 3.2.5 AIRS Medical Inc.
- 3.2.5.1 Company Overview
- 3.2.5.2 Role of AIRS Medical Inc. in the Artificial Intelligence/Machine Learning Medical Device Market
- 3.2.5.3 Key Developments
- 3.2.6 Annalise-AI
- 3.2.6.1 Company Overview
- 3.2.6.2 Role of Annalise-AI in the Artificial Intelligence/Machine Learning Medical Device Market
- 3.2.6.3 Key Developments
- List of Figures
- Figure 1: Artificial Intelligence/Machine Learning Medical Device Market, Healthcare Workflow on Introduction of AI/ML-Enabled Medical Devices
- Figure 2: Asia-Pacific Artificial Intelligence/Machine Learning Medical Device Market, Impact Analysis
- Figure 3: Artificial Intelligence/Machine Learning Medical Device Market (by Region), $Million, 2022 and 2032
- Figure 4: Artificial Intelligence/Machine Learning Medical Device Market: Research Methodology
- Figure 5: Primary Research Methodology
- Figure 6: Bottom-Up Approach (Segment-Wise Analysis)
- Figure 7: Top-Down Approach (Segment-Wise Analysis)
- Figure 8: Artificial Intelligence/Machine Learning Medical Device Market Size and Growth Potential (Realistic Growth Scenario), $Million, 2021-2032
- Figure 9: Artificial Intelligence/Machine Learning Medical Device Market Size and Growth Potential (Optimistic Growth Scenario), $Million, 2021-2032
- Figure 10: Artificial Intelligence/Machine Learning Medical Device Market Size and Growth Potential (Pessimistic Growth Scenario), $Million, 2021-2032
- Figure 11: Artificial Intelligence/Machine Learning Medical Device Market, Relevancy of AI in Healthcare
- Figure 12: Artificial Intelligence/Machine Learning Medical Device Market, AI’s Role in Assisting the Various Stakeholders in Healthcare Settings
- Figure 13: Artificial Intelligence/Machine Learning Medical Device Market, Different Types of AI/ML Algorithms in Healthcare
- Figure 14: Artificial Intelligence/Machine Learning Medical Device Market Key Trends, Market Shift, 2022-2032
- Figure 15: Artificial Intelligence/Machine Learning Medical Device Market, Changes in Traditional Healthcare Business Models due to Integration of AI in Medical Devices
- Figure 16: Artificial Intelligence/Machine Learning Medical Device Market, Recommendations for Key Players
- Figure 17: Artificial Intelligence/Machine Learning Medical Device Market, Patent Analysis (by Country), January 2018-January 2023
- Figure 18: Artificial Intelligence/Machine Learning Medical Device Market, Patent Analysis (by Year), January 2018-January 2023
- Figure 19: Artificial Intelligence/Machine Learning Medical Device Market Product Benchmarking
- Figure 20: Artificial Intelligence/Machine Learning Medical Device Market, End User Perception
- Figure 21: General Procedure of Artificial Intelligence (AI)-Based Applications to Identify COVID-19 Symptoms
- Figure 22: Artificial Intelligence/Machine Learning Medical Device Market, Impact Analysis
- Figure 23: Diverse Range of AI Applications in Medical Field
- Figure 24: Regulatory Approvals for AI-Enabled Solutions, 2019-2022
- Figure 25: Artificial Intelligence/Machine Learning Medical Device Market, Applications of Wearable Sensors in Healthcare
- Figure 26: Number of CT Scanners in Australia Per One Million Inhabitants, 2014-2021
- Figure 27: Artificial Intelligence/Machine Learning Medical Device Market Share (by Region), 2022-2032
- Figure 28: Asia-Pacific Artificial Intelligence/Machine Learning Medical Device Market, Incremental Opportunity (by Country), $Million, 2022-2032
- Figure 29: Asia-Pacific Artificial Intelligence/Machine Learning Medical Device Market, $Million, 2021-2032
- Figure 30: Asia-Pacific Artificial Intelligence/Machine Learning Medical Device Market (by Country), % Share, 2021 and 2032
- Figure 31: Artificial Intelligence/Machine Learning Medical Device Market, Number of AI/ML-Enabled SaMDs in Japan, 2018-2020
- Figure 32: Japan Artificial Intelligence/Machine Learning Medical Device Market, $Million, 2021-2032
- Figure 33: China Artificial Intelligence/Machine Learning Medical Device Market, $Million, 2021-2032
- Figure 34: Australia Artificial Intelligence/Machine Learning Medical Device Market, $Million, 2021-2032
- Figure 35: South Korea Artificial Intelligence/Machine Learning Medical Device Market, $Million, 2021-2032
- Figure 36: Artificial Intelligence/Machine Learning Medical Device Market, AI Talent Concentration Comparison of Key Countries, 2021
- Figure 37: India Artificial Intelligence/Machine Learning Medical Device Market, $Million, 2021-2032
- Figure 38: Rest-of-Asia-Pacific Artificial Intelligence/Machine Learning Medical Device Market, $Million, 2021-2032
- Figure 39: Artificial Intelligence/Machine Learning Medical Device Number of Key Developments and Strategies, January 2018-January 2023
- Figure 40: Regulatory and Legal Activities, January 2018-January 2023
- Figure 41: Funding Activities, January 2018-January 2023
- Figure 42: New Offerings, January 2018-January 2023
- Figure 43: Mergers and Acquisitions, January 2018-January 2023
- Figure 44: Partnerships, Alliances, and Business Expansions, January 2018-January 2023
- Figure 45: Canon Inc.: Overall Product Portfolio
- Figure 46: Canon Inc.: Overall Financials, $Million, 2019-2021
- Figure 47: Canon Inc.: Net Revenue (by Segment), $Million, 2019-2021
- Figure 48: Canon Inc.: Net Revenue (by Region), $Million, 2019-2021
- Figure 49: Canon Inc.: R&D Expenditure, $Million, 2019-2021
- Figure 50: Shanghai United Imaging Healthcare Co., Ltd.: Overall Product Portfolio
- Figure 51: Ever Fortune.AI Co., Ltd.: Overall Product Portfolio
- Figure 52: MedMind Technology Co., Ltd.: Overall Product Portfolio
- Figure 53: AIRS Medical Inc.: Overall Product Portfolio
- Figure 54: Annalise-AI: Overall Product Portfolio
- List of Tables
- Table 1: Artificial Intelligence/Machine Learning Medical Device Market, Key Developments Analysis, January 2018-February 2023
- Table 2: Key Questions Answered in the Report
- Table 3: Parameters for Realistic, Optimistic, and Pessimistic Growth Scenarios in Artificial Intelligence/Machine Learning Medical Device Market
- Table 4: Funding Scenarios in Artificial Intelligence/Machine Learning Medical Device Market, January 2018-January 2023
- Table 5: Artificial Intelligence/Machine Learning Medical Device Market, Applications of AI-Enabled Medical Devices in Several Clinical Areas
- Table 6: Start-Ups in the Artificial Intelligence/Machine Learning Medical Device Market
- Table 7: Asia-Pacific Artificial Intelligence/Machine Learning Medical Device Market, Impact Analysis
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